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Simulation tools to understand energy markets

Simulation tools to understand energy markets
21 . Jan . 2022

As we face a future characterized by an increasing quota of electrification from renewable resources in our power systems, we need to understand how to incorporate the effects of climate change in our predictive models and guarantee an accurate modelling of reliable scenarios in our calculation systems. In this context, simulation tools are fundamental to assist clients in identifying the best solutions for a given scenario, in terms of energy markets, ancillary services, and capacity.

In order to meet such needs, CESI has developed two different market simulation toolsPromedGrid and MODIS – that also address the key role of batteries and electrolyzers for the integration of renewable energy into the grid.

Employed by the Italian TSO (Terna) to evaluate the market benefits deriving from network upgrades (both in Italy and Europe), PromedGrid is a market modelling software package that assists in planning network investments. The software bases optimization on a deterministic model that examines both the technical and economic characteristics of electric energy production systems.

MODIS, on the other hand, is a simulation tool that aims to minimize the overall cost of redispatch caused by operative restraints by providing a quantitative evaluation of the impact of new transmission infrastructure, storage units and virtual units on market dispatch services. By simulating a zonal market and reproducing all the necessary balancing actions, MODIS guarantees adequate secondary and tertiary reserve margins with an hourly time discretization.

Read more about CESI involvement in the sustainable development of energy markets at this link.

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